Deutsche Bank AG Makes New $270.38 Million Investment in Blackstone Inc. $BX

Deutsche Bank AG purchased a new stake in shares of Blackstone Inc. (NYSE:BX) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,297,785 shares of the asset manager’s stock, valued at approximately $270,380,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its holdings in shares of Blackstone by 34.6% during the fourth quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager’s stock valued at $1,365,000 after buying an additional 2,035 shares in the last quarter. Sivia Capital Partners LLC boosted its holdings in shares of Blackstone by 9.3% during the second quarter. Sivia Capital Partners LLC now owns 2,076 shares of the asset manager’s stock worth $310,000 after purchasing an additional 177 shares during the period. United Bank increased its stake in Blackstone by 14.7% in the 2nd quarter. United Bank now owns 13,528 shares of the asset manager’s stock valued at $2,024,000 after buying an additional 1,729 shares during the period. Nebula Research & Development LLC purchased a new stake in Blackstone in the 2nd quarter worth approximately $1,124,000. Finally, Sei Investments Co. grew its holdings in shares of Blackstone by 1.9% during the 2nd quarter. Sei Investments Co. now owns 452,619 shares of the asset manager’s stock valued at $67,703,000 after acquiring an additional 8,655 shares in the last quarter. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Blackstone Trading Up 0.0%

Shares of Blackstone stock opened at $140.62 on Wednesday. Blackstone Inc. has a 1 year low of $101.73 and a 1 year high of $190.09. The company’s fifty day simple moving average is $127.46 and its 200-day simple moving average is $122.41. The company has a market cap of $105.56 billion, a price-to-earnings ratio of 31.46, a PEG ratio of 1.60 and a beta of 1.55. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.63.

Blackstone (NYSE:BX) last released its earnings results on Thursday, July 23rd. The asset manager reported $1.52 EPS for the quarter, beating the consensus estimate of $1.34 by $0.18. The firm had revenue of $5.04 billion during the quarter, compared to analysts’ expectations of $3.42 billion. Blackstone had a net margin of 21.84% and a return on equity of 23.77%. The business’s quarterly revenue was up 35.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.98 EPS. As a group, sell-side analysts expect that Blackstone Inc. will post 6 EPS for the current year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were given a dividend of $1.29 per share. This represents a $5.16 dividend on an annualized basis and a yield of 3.7%. This is a boost from Blackstone’s previous quarterly dividend of $1.16. The ex-dividend date of this dividend was Monday, August 3rd. Blackstone’s dividend payout ratio (DPR) is 115.44%.

Insider Activity

In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $3.78, for a total value of $28,264,950.00. Following the completion of the transaction, the insider owned 19,374 shares of the company’s stock, valued at $73,233.72. This represents a 99.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Private Multi-Asset Blackstone acquired 765,111 shares of Blackstone stock in a transaction on Tuesday, June 23rd. The stock was purchased at an average price of $26.14 per share, with a total value of $20,000,001.54. Following the transaction, the insider directly owned 7,882,145 shares in the company, valued at approximately $206,039,270.30. This trade represents a 10.75% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders purchased 1,339,180 shares of company stock valued at $35,062,433 and sold 7,562,000 shares valued at $40,331,085. 1.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

BX has been the subject of several recent research reports. Royal Bank Of Canada increased their price objective on Blackstone from $161.00 to $169.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. The Goldman Sachs Group upped their target price on Blackstone from $114.00 to $127.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. BNP Paribas Exane reduced their price target on Blackstone from $126.00 to $125.00 and set a “neutral” rating for the company in a report on Tuesday, June 30th. Argus increased their price objective on Blackstone from $146.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Finally, Oppenheimer lifted their target price on shares of Blackstone from $139.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Thirteen investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $147.95.

Blackstone Profile

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.